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Robert Hughes

Fed Raises Rates, Keeps Outlook Unchanged

The Federal Reserve raised its target for the federal funds rate by 25 basis points to a range of 0.75 percent to 1.00 percent.  The move was the third rate increase since December 2015. The current pace of policy normalization remains well below previous tightening cycles. The Summary Economic Projections (SEP), the survey of Fed […]

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Max Gulker

Rent-Seeking as a Threat to Modern Capitalism

What is the best way to ensure fairness and free competition in our economy? Many people believe that a large government that actively regulates the private sector will prevent large corporations from achieving undue market power. But this view ignores the concept of rent-seeking.

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Robert Hughes

Tepid Economic Data Ahead of Fed Decision

February retail sales and consumer prices rose at a slower pace compared to January. Some analysts have linked the moderation in spending to the delay in tax refunds by the Internal Revenue Service. The deceleration may also be a return to a moderate pace of growth following brisk gains in December and January. Either way, […]

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